Question
In: Statistics and Probability
The Auto Trader lists thousands of cars for sale in a variety of marks and models....
The Auto Trader lists thousands of cars for sale in a variety of marks and models. A recent listing for Honda Civic LX Sedans shows the following price summary by year.
t for Price
Year. Regression (000)
2018 5 18.2
2017 4 17.5
2016 3 14.5
2015 2 10.7
2014 1 9.5
a) Sketch a scatter gram of Honda Civic Prices by year.
b) Draw a line through this data that you think best fits the data.
c) Calculate the formula for your line (estimate intercept and slope)
d)Use linear regression to calculate the slope and intercept and state the equation.
e)How close is your line to the one determined by linear regression.
f) Using the regression equation, what is your estimate for a used 2019 LX Civic?
G) Calculate the standard euro of the estimate.
Solutions
Expert Solution
a) Sketch a scatter gram of Honda Civic Prices by year.
b) Draw a line through this data that you think best fits the data.
c) Calculate the formula for your line (estimate intercept and slope)
d)Use linear regression to calculate the slope and intercept and state the equation.
First we have to construct below table, we get
| X | Y | X2 | Y2 | X*Y | |
| 2018 | 18.2 | 4072324 | 331.24 | 36727.6 | |
| 2017 | 17.5 | 4068289 | 306.25 | 35297.5 | |
| 2016 | 14.5 | 4064256 | 210.25 | 29232 | |
| 2015 | 10.7 | 4060225 | 114.49 | 21560.5 | |
| 2014 | 9.5 | 4056196 | 90.25 | 19133 | |
| Total |
 =10080 |
 =70.4 |
 =20321290 |
 =1052.48 |
 =141950.6 |
Now we have to determine SSxy, SSx, Xbar, Ybar, Slope (b) and Intercept (a)
Therefore, regression equation is,
f) Using the regression equation, what is your estimate for a used 2019 LX Civic?
What is the predicted value 
when X = 2019, using equation (I), we get
G) Calculate the standard euro of the estimate.: Something is wrong in this section. What does mean euro????
orchestra answered 1 year agoRelated Solutions
An auto company produced some models of cars that may be difficult to drive because the...
An auto company produced some models of cars that may be
difficult to drive because the car wheels are not exactly round.
Cars with model numbers 119, 179, 189 through 195, 221, and 780
have been found to have this defect. Create a CarRecall application
that prompts a customer for the model number of their car to find
out if it is defective and then displays “Your car is not
defective.” when the user typed a model number without a...
The table below lists the earnings (in thousands of dollars) of a random sample of 12...
The table below lists the earnings (in thousands of
dollars) of a random sample of 12 male and 12 female salespersons.
At alpha = 0.10 can you conclude that there is a difference between
males’ and females’ earnings?
Male
28
43
64
51
48
44
36
45
67
49
40
65
Female
36
27
51
43
35
48
41
37
34
47
50
43
The claim is “there is a difference between males’ and
females’ earnings”
The chart below lists the sales in thousands of dollars based on the advertising budget for...
The chart below lists the sales in thousands of dollars based on
the advertising budget for that quarter. The regression equation is
Y' = 4.073 + 0.8351X. What is the correlation
coefficient?
Advertising ($hunderds)
Sales ($thousands)
0
5
3
5.5
4
7
5
7.8
6
9
7
11
Multiple Choice
0.775
0.844
0.926
1.00
The accompanying table lists the number of registered automatic weapons (in thousands) along with the murder...
The accompanying table lists the number of registered automatic
weapons (in thousands) along with the murder rate (in murders per
100,000 of population), for randomly selected states. Automatic
weapons are guns that continue to fire repeatedly while the trigger
is help back.
Automatic Weapons 11.6 8.3 3.6 0.6 6.9 2.5 2.4 2.6
Murder Rate 13.1 10.6 10.1 4.4 11.5 6.6 3.6 5.3
a) Plot the scatter diagram for the paired data.
b) Assuming a 5% level of significance, use the...
A car manufacturer recognizes the sale of 40,000 cars in its income statement. All cars have...
A car manufacturer recognizes the sale of 40,000 cars in its
income statement. All cars have been prepaid but not yet shipped to
the customer. Assuming that sale is profitable, the accelerated
recognition of this sale as revenue is likely to lead to the
distortions in the following ratios:
• Net Income higher – no effect – lower
• Asset turnover higher – no effect- lower
• Debt-to-equity higher – no effect - lower
The data below is the mileage (thousands of miles) and age of your cars . Year...
The data below is the mileage (thousands of miles) and age of
your cars .
Year Miles Age
2017 8.5
1
2009 100.3 9
2014 32.7 4
2004 125.0 14
2003 115.0 15
2011 85.5 7
2012 23.1 6
2012 45.0 6
2004 123.0 14
2013 51.2 5
2013 116.0 5
2009 110.0 9
2003 143.0 15
2017 12.0 1
2005 180.0 13
2008 270.0 10
Please include appropriate Minitab Results when
important
a. Identify terms in the simple linear...
The data below is the mileage (thousands of miles) and age of your cars as sample....
The data below is the mileage (thousands of miles) and age of
your cars as sample.
Year Miles Age
2017 8.5
1
2009 100.3 9
2014 32.7 4
2004 125.0 14
2003 115.0 15
2011 85.5 7
2012 23.1 6
2012 45.0 6
2004 123.0 14
2013 51.2 5
2013 116.0 5
2009 110.0 9
2003 143.0 15
2017 12.0 1
2005 180.0 13
2008 270.0 10
Please include appropriate Minitab Results when
important
a. Identify terms in the simple...
The table below shows the number of hybrid cars sold (in thousands) in the US in...
The table below shows the number of hybrid cars
sold (in thousands) in the US in the following
years.
* Source: Wikipedia
Year
Hybrid cars sold in US (in
thousands)
2000
9.35
2002
36.04
2004
84.20
2007
352.27
2010
274.21
2014
452.15
Find an exponential regression equation for the
data. Let x = 0 represent the year 2000. Round a to two decimal
places, and round b to four decimal places.
Describe what a and b tell you from your...
The data below is the mileage (thousands of miles) and age of your cars . Year...
The data below is the mileage (thousands of miles) and age of
your cars .
Year Miles Age
2017 8.5
1
2009 100.3 9
2014 32.7 4
2004 125.0 14
2003 115.0 15
2011 85.5 7
2012 23.1 6
2012 45.0 6
2004 123.0 14
2013 51.2 5
2013 116.0 5
2009 110.0 9
2003 143.0 15
2017 12.0 1
2005 180.0 13
2008 270.0 10
Please include appropriate Minitab Results when
important
a. Identify terms in the simple linear...
Table 10.7 lists the mean salary, in thousands of dollars, of faculty on nine-month contracts in...
Table 10.7 lists the mean salary, in thousands of dollars, of
faculty on nine-month contracts in U.S. institutions of higher
education in 2013-2014, by gender and academic rank.
(a) Suppose that gender is the explanatory variable. Identify
the response variable and the control variable.
(b) Describe the bivariate relationship between gender and
salary.
(c) Describe the relationship between gender and salary,
controlling for academic rank.
(d) A hypothesis of interest for these variable is "Controlling
for academic rank, annual salary...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- You have invested 30 percent of your portfolio in Jacob, Inc., 40 percent is Bella Co.,...
- Parallel Arrays This question is in MindTap Cengage Summary In this lab, you use what you...
- 5. You have invested 30 percent of your portfolio in Jacob, Inc., 40 percent is Bella...
- JAVA Write a test program that prompts the user to enter a series of integers and...
- (2) Cite an example on how organizations like Google, Facebook, Youtube etc collect data for image...
- The legal landscape is perpetually changing. Psychologists must remain abreast of these changes to avoid potentially...
- We are evaluating a project that costs $1.68 million, has a six-year life, and has no...
ADVERTISEMENT